The financial woes of American rapper and actor “Young Buck” have been cleared after he recently got out of bankruptcy, according to a report on September 19. Some of the 32 year-old rapper's creditors will not be paid back; 50 cent, for example, will not receive the $117,000 he is owed, according to legal papers. [...]
A NYC property of former NBA star Stephon Marbury is being threatened with foreclosure due to an unsettled debt from 2010, a report published on Wednesday, September 18. The two-bedroom and two-bath condominium of Stephon Marbury might be repossessed by the U.S. Bank International due to an accumulated debt of $844,035. Marbury has not made [...]
As part of foreclosure proceedings, the house of ex-NFL star O.J. Simpson will be sold this coming October, an August 27 report said. In the court documents, the 4,233 square-foot house of Simpson near Miami owed principal and interest worth more than $796,000 and unsettled property tax and insurance premiums that cost more than $80,000. [...]
The costs of closing a mortgage were observed to increase due to high interest rates, according to a recent article published by USA Today. In a survey conducted last June by Bankrate.com, origination fees increased by 8 percent while other fees were observed to increase by 1 percent. According to one industry insider, lenders were [...]
To pay off $1.7 million loan, ex-NFL quarterback Vince Young’s personal possessions were inventoried in preparation for auctioning, a report said on Thursday, July 25. A judge did allow the football player to keep $60,000 worth of personal property, but ordered him to sell the rest of his personal properties in an auction to pay [...]
Federal regulators announced in early July that they plan to fight questionable debt collecting practices of some of the nation’s big lenders. The Consumer Financial Protection Bureau asserted on Wednesday, July 10 that they have the authority to regulate debt collection practices of banks. According to Richard Cordray, unfair, deceptive, and abusive debt-collecting practices are [...]
In a report by NerdWallet Health, data showed that 1.7 million Americans are expected to go bankrupt this year due to rising medical bills. NerdWallet Health Vice president Christina LaMontagne said “medical bills can completely overwhelm a family when illness strikes.” In fact, their data shows that 15 million Americans will exhaust their savings in [...]
According to recent studies and data, more senior citizens are facing overwhelming debt today, according to The Fiscal Times. Adults aged 65 and above were found out to be filing for bankruptcy at a higher rate than any other age group, in addition to being found to have 50 percent more debt in their credit [...]
According to a recent study, young people diagnosed with cancer are more than two times as likely to file for bankruptcy compared to cancer free young people. Dr. Scott Ramsey of the Fred Hutchinson Cancer Research Center and his co-authors found strong evidence linking cancer diagnosis and the risk of bankruptcy. According to a database [...]
Certain students may pay higher college-loan interest rates if Congress does not work to prevent mandatory cuts. Future interest rates on subsidized Stafford loans will increase by one hundred percent, from 3.4 percent to 6.8 percent, if Congress does not pass a bill keeping the rates as they are by the deadline on July 1. [...]
A local homeowner in Granger Township, Ohio was recently ordered to remove a protest sign from his yard that targets the two banks involve in his and his wife's foreclosure. ‘Fifth Third and Freddie Mac proudly present the capture of this home and family into the smash the dream program’ was printed on a huge [...]
The owner of the old Chiquita Center, located in downtown Florida, recently filed for bankruptcy after the building lost a major tenant last year. According to reports, Tucson-based building owners, AZ 250 LLC, filed Chapter 11 bankruptcy in Arizona in January with 107 creditors, assets worth $25 million, and almost $71 million of liabilities listed. [...]
2012 saw an increase in foreclosures throughout Ohio, largely due to a backlog from the housing crisis, according to a recently released report. RealtyTrac Inc., a popular foreclosure tracking firm, said Ohio residents had filed more default notices, scheduled auctions, and bank repossessions last year than in 2011. With 89,584 filings recorded last year, RealtyTrac [...]
Fisker Automotive could potentially be in financial danger after its sole electric battery manufacturer filed for bankruptcy last month. A123 Systems, which made all of Fisker's electric car batteries for its Karma model, filed for Chapter 11 protection in October with $376 million in debt. According to the Washington Times, A123 Systems is now requesting that [...]
AMR Corp., the parent company of American Airlines, posted a net loss of $82 million for the month of August. The Fort Worth-based company, which filed for Chapter 11 bankruptcy last November, also saw a $535 million loss in short-term investments and unrestricted cash, according to BusinessWeek. A majority of the commercial airline company's losses [...]
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